Reported 20 days ago
Tupperware Brands Corporation has filed for Chapter 11 bankruptcy after struggling financially, despite experiencing a brief uptick during the pandemic as more people cooked at home. The company attributes its woes to a challenging macroeconomic environment and an outdated direct sales model which failed to transition into e-commerce despite the rise of online shopping. Acknowledging this failure, Tupperware plans to pursue a turnaround strategy that includes enhancing its digital presence and exploring potential business sales.
Source: YAHOO